Meats Futures Prices

Wed May 23, 4:55PM CDT
Live cattle futures close the Wednesday session with contracts $1.20 to $1.90 higher, as June was up 55 cents while waiting for cash market indications. Feeder cattle futures saw gains of $1.925 to $2.625, with soon to expire May up 95 cents. The CME feeder cattle index was up 2 cents on May 22 at $133.43. Wholesale boxed beef values were mixed on Wednesday afternoon. Choice boxes were up 73 cents at $230.08, with Select boxes 82 cents lower at $205.04. Week to date FI cattle slaughter was estimated at 358,000 head through Wednesday. That is 4,000 head larger than last week. Analysts are expecting to see April feedlot marketings at an average of 1.805 million head, which is 6% larger than the same month last year. The Cattle on Feed report is scheduled for Friday morning at 11 AM CDT. None of the 225 head offered on FCE’s online auction were sold on Wednesday. A few low ball bids of $108 and $175 have been reported in NE so far on Wednesday, with no sales yet to report.Jun 18 Cattle closed at $105.450, up $0.550,Aug 18 Cattle closed at $102.800, up $2.150,Oct 18 Cattle closed at $105.750, up $1.900,May 18 Feeder Cattle closed at $134.900, up $0.950Aug 18 Feeder Cattle closed at $143.350, up $2.625Sep 18 Feeder Cattle closed at $143.300, up $2.500

Wed May 23, 4:55PM CDT
Lean hog futures were 67.5 cents to $1.475 in the green on Wednesday, ignoring bearish Cold Storage stocks data. The CME Lean Hog Index was up 33 cents from the previous day to $68.69 on May 21. The USDA pork carcass cutout value was down $1.33 at $74.81 on Wednesday afternoon. The loin led the way, down $3.36, with the belly the only cut reported higher. The national base hog weighted average price was 4 cents lower at $64.73 in the afternoon. The USDA estimated FI hog slaughter at 1.374 million head through Wednesday. That is down 6,000 head from last week but 48,000 above the same week in 2017.Jun 18 Hogs closed at $74.600, up $1.475,Jul 18 Hogs closed at $76.225, up $1.100Aug 18 Hogs closed at $75.025, up $0.675